Savers: where to find the best rates now

With interest rates so low, finding a home for your money is far from easy. Steve Lodge explores ways savers can boost their returns.

It's been a miserable few years for savers. But new Bank of England governor Mark Carney has offered a glimmer of hope by scaling back the Funding for Lending Scheme (FLS).

Since its launch in 2012, savings rates have dropped by up to 1.5 percentage points. That's because banks and building societies have been able to access cheap finance to support mortgage lending, rather than compete for savers' funds.

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Easy access1.60%Coventry Building Society Online Saver (Issue 5)Four penalty-free withdrawals a year
Regular savings3.05%Cambridge Building Society Regular Savings Bond (Issue 3)One-year term; maximum deposit £250/month, £3,000 total
Current account5%Nationwide FlexDirectApplies to balances of up to £2,500 in first year
Fixed rate (one year)2.15%My Community Bank 1 Year Fixed Term Deposit£15,000 maximum investment
Fixed rate (two years)2.35%FirstSaveTwo-year fixed rate bond (16th issue)
Isa (variable rate)1.80% (tax-free)Post Office Premier Cash Isa (Issue 5)Rate includes 0.9% bonus for 18 months; accepts Isa transfers